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Please fill in exactly the same way as this form Suppose a husband wants to take his wife on a trip three years from now
Please fill in exactly the same way as this form
Suppose a husband wants to take his wife on a trip three years from now to Europe to celebrate their 40 th anniversary. He has just received a $26,000 inheritance from an uncle and intends to invest it for the trip. The husband estimates the trip will cost $33,280. What interest rate, compounded annually, must be earned to accumulate enough to pay for the trip? Note: Use tables, Excel, or a financial calculator. Do not round your intermediate values. Enter your answer rounded to the nearest whole percentage. (FV of $1,PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1 ) You have an investment opportunity that promises to pay you $16,543 in four years. Suppose the opportunity requires you to invest $13,610 today. What is the interest rate you would earn on this investment? Note: Use tables, Excel, or a financial calculator. Do not round your intermediate values. Enter your answer rounded to the nearest whole percentage. (FV of $1,PV of $1,FVA of $1,PVA of $1, FVAD of $1 and PVAD of $1 )Step by Step Solution
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